CIC Association

Serving Community Enterprise

I am required to submit our first accounts for a very small CIC, that provides piped spring water to 20 properties. Our income from users contributions for 16/17, was £700 and our outgoings were £700. We have no assets, liabilities or shares. Could anyone recommend an example of accounts that I could copy? Thanks Mike

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I would really like to know this too.  We can't afford accountants. I had just managed to work out how to do a balance sheet, which was acceptable in previous years, but now they say 'abbreviated accounts cannot be accepted for accounting periods that begin after 31/12/2015'

Hi Kate,

Just checked Companies House website and our accounts have been accepted. I would be happy to send you are copy or if you search for Rawhill Water Supply CIC on Companies House you will see our accounts. If you would like me to send you a copy please let me have your email address.

Regards Mike

Hi

I am looking for some advice along the same lines. The accounts I have done (can't afford accountant) are following the rules on micro-entities, suing Format 1 for the Balance Sheet.

My question is, do I put the loan from a Director (me) to the CIC (Ltd by Shares) under current assets and also under creditors due over 1 year?

Here is my draft:

Statement of Financial Position

This presents a statement of financial position in accordance with one of

the formats set out in Section C of Part 1 of Schedule 1 to the ‘The Small Companies (Micro-entities’ Accounts) Regulations 2013’.

 

  1. Called up share capital not paid                                                                    100
  2. Fixed assets                                                                                                      0
  3. Current assets (stock)                                                                 1500
  4. Prepayments and accrued income                                                     0
  5. Creditors: amounts falling due within one year                                  0
  6. Net current assets / (liabilities)                                                                      1500
  7. Total assets less current liabilities                                                                  1600

 

  1. Creditors: amounts falling due after more than one year                                      0
  2. Provisions for liabilities                                                                                 (2979)
  3. Accruals and deferred income                                                                               0

                                                                                                                               (1379)

  1. Capital and reserves                                                                                              0                                                                                                                                                                          

 

In accordance with ‘Section 414(3) of The Small Companies (Micro-entities’ Accounts) Regulations 2013’, this financial statement has been prepared in accordance with the micro-entity provisions of the Act.                                                                  

Thanks

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